Budget Proposals Criticised.

Wanganui Herald, Volume XXXXIV, Issue 12758, 1 May 1909, Page 5

Budget Proposals Criticised.

Mr Austen Chamberlain's Views

LONDON, April 30. Mr Austen Chamberlain said that the Budget was so detailed that immediate criticism was impossible. It might serve the purposes of an electoral manifesto, but it would take three Parliaments to pass the legislation necessary for its full achievement. It would make bonds dearer, and other securities transferable by delivery would be raised 10s to 20s per cent, of their nominal value, but the bonds issued by colonial Governments would remain half a crown per cent.

What the Times Thinks.

LONDON, April 30. The Times opines that the stamp duties will operate very disadvantageously with bankers, who will be paralysed in respect to raising colonial corporation loans. Such loans, it is expected, will be obtained by New York bankers in future.